some antitrust concerns about the halliburton baker hughes tie-up. we'll follow it and bring you more as soon as we have it and bring you the trade on baker hughes as soon as reopens for trading. >>> coming up, goldman sachs weighing in with high conviction on exxon. we'll go around the desk to see if our experts agree. >>> and we go to the nymex for the trade on precious metals. but what if you could see more of what you wanted to know? with fidelity's new active trader pro investing platform, the information that's important to you is all in one place, so finding more insight is easier. it's your idea powered by active trader pro. another way fidelity gives you a more powerful investing experience. call our specialists today to get up and running. you are looking at two airplane fuel gauges. can you spot the difference? no? you can't see that? alright, let's take a look. the one on the right just used 1% less fuel than the one on the left. now, to an airline, a 1% difference could save enough fuel to power hundreds of flights around the world. hey,

baker hughes, off by 5.4%.ut,: as julie is pointing we thought we would see more consolidation among the players but we have not. the governor is taking -- the government is taking a hard look at what assets will be sold in relation to deals like this. what conditions -- they are putting stringent measures. judging from the stock reaction, this is not good news for shareholders who are betting on this deal but it looks as if they believe this is something that is going to take a big leap. scarlet: this is not a done deal with the doj has done this. this is according to our reporting. given what happened with comcast and time warner cable, you wonder if the company might decide to walk away. we do not know that that is going to happen. perhaps that might be a next step to consider. betty: we have the directv merger. that looks like it is going to head to fruition. much more ahead, cloudy with a .hance of sharknado scarlet: betty was totally into it. the third in the sci-fi channel's franchise. the producer will

betty: halliburton's takeover of baker hughes is in jeopardy. the government may block the transaction, sending shares plunging. good afternoon, i'm betty liu. mark: i am mark crumpton. thank you for joining us on the bloomberg market day. worldtocks around the leading wall street lower following disappointing second-quarter results from apple and microsoft. be on tech companies, some positive signs on financial results. boeing rising after reporting cash flow surged in the second quarter. intuitive rallying after the company's profit topped estimates. gold futures retreating for a 10th day, the longest run of losses since 1996. gold is down a full percent trading at $1092 and $.50. oil is trading lower, down 1.8% today. crude oil facing some pressure because u.s. stockpiles are increasing. betty: 2.5 million barrels come in fact. given the clients we have seen in stocks, a mixed session here for the bond market. you see the yields continue to come down. the two-year yield is holding steady here at 0.7, up slightly. in currencies, janet yellen i

baker hughes seeing a bigger drop. much as seven of 18 --ints -- seven/eight seven/eight of 1%. there is concern that makeburton may sell off to this happen. the competitors who buy the assets will not be competitive enough to make it get through antitrust scrutiny. you have the combination of that, horse, that deal, some earnings, and oil prices are definitely not helping energy today. alix: definitely not. thank you so much, julie hyman. another look at the top stories this hour, amazon is an -- exposed -- expanding its home service program. customers can use it to find people to paint their homes, install home theaters or get guitar lessons. it opened in new york, l.a., san francisco, and seattle. chicago and san francisco are being added. people are being charged with that damaging cyber attack against j.p. morgan last year. they trolled the networks for two months without being protected. information about 76 million households was stolen. suspects were arrested florida and israel. one is still at large. you could

this is a yearly look at the baker hughes oil index. charting those rigs across the u.s.f you look closely in the screen you are seeing a slow uptake when it comes to oil. you can see a little bit better and really have to squint to look at it but it is significant. 21 oil rigs were added and then we had this huge commodities slumped and they were added in the permian basement -- basin. joe: they are picking that up again. alix: the permian has been adding them week over week. as you have these rigs, and line, production a long record highs, what will happen to prices? jo : joe: probably down. we want to see what our guest thought about some interesting comments from citigroup's head of commodities research and doris. check it out. >> in many ways what we are seeing in the selloff is a return to where the markets should have been had there not been a little bit of euphoria about commodity land. alix: to top it off we get the news that hedge funds are net time in gold for the first ever. what does that wind up doing to the financial engineering market? shorthedge funds are

my deep dive year, i want to get into the bloomberg terminal and talk about the baker's hughes recount. this was crazy cool today because for the first time since december, we added oil rigs. oil a slight uptick -- 12 rigs added. the reason that was a big deal as we have seen the oil rigs come off as we have seen oil prices come off and shale has been starting to add some rigs back. all five of the prolific plays added rigs. the reason this matters is if oil companies are coming back again, they are going to keep drilling and that will have some issue for the recovery in oil prices. the oil rig declines have become so consistent that i almost stopped paying attention to them. now they are back up. alix: it was really exciting. for more on the big story, i want to bring in our guest, a bank of america merrill lynch head of u.s. equities and quantitative strategy. also a u.s. of oregon -- university of economics professor from the university of oregon. what is -- what does today's report mean for the fed? does it change anything for the fed outlook? guest: i don't think it's going to cha

alix: don't miss baker hughes earnings out before the opening bell tomorrow.ng for earnings to be down 115%, sales down 36%. it's all going to be about margin pressure and expected activity. on their services. we will have a good read through on what's happening on oil services and the oil industry. joe: don't miss chipotle earnings, always fun. it's a fun company. they tell you about the money prices, consumers. alix: it's all going to be about store openings for that place, too. that's where you get growth news for chipotle. joe: that is all for "what'd you miss?". thank you for watching. alix: we will see you back here tomorrow. ♪ ♪ (ee-e-e-oh-mum-oh-weh) (hush my darling...) (don't fear my darling...) (the lion sleeps tonight.) (hush my darling...) man snoring (don't fear my darling...) (the lion sleeps tonight.) woman snoring take the roar out of snore. yet another innovation only at a sleep number store. city, this is "charlie rose." charley: 15 years ago, bill and linda gates created the bill and melinda gates foundation. nine years ago, warren buffett

baker hughes. six-month low on news that halpern's takeover of the company is reportedly according to bloomberg facing resistance from u.s. justice department officials who are worried the deal could hurt competition. halliburton end of the day slightly lower. this is unfolding while we were on the halftime report, pete. halts left and right because of volatility in the stock. >> take a look at the way baker hughes bounced off. speaking about reversals on the day. this stock got all the way down into the 52 range, ended up at 58. because of the fact i think because halliburton came out and pound the table and said we'll get this deal done, $35 billion deal. number 3 and number 2 going up against schlumberger who's number 1. going to have to sell off a lot of assets. this is going to be something very complicated with the doj. will they approve it? we already know the ge/electric o'lux deal, that's something that's going to be a pain for a while. these various things, the doj coming into the airline

. >>> baker hughes swung to a loss in its most recent quarter. oil fueled revenue company saying it expects tumbling oil prices will persist for the rest of the year. sales weren't as weak as expected. shares rose 2% to $6.64. >>> an increase in trading activity helped post an increase in profit. shares flipped on this down day. harley-davidson also reporting mixed quarterlies, the strong greenback weighed on its internationalsales. the cycle maker refused to keep pace with rival discounts. shares revved up a little bit about 5% to 57.67. lifelong shares were halted after the ftc charged the identity theft monitoring company saying it failed to protect its consumers data. the charges say the firm is violating the terms of a previous settlement with the agency. life law could disagree saying it's prepared to take the case to court. when shares continue trading they plunged, plunging almost 50% lower on the day at 8:15. c.i.t. group won approval for its pending deal to buy one west bank. the office of the comptroller currency gave the okay. the fed

first one would be baker hughes reporting oil rigs went up again.rigs. we need to be seeing this go in the other direction, they told me even though oil rigs are down more than 50% year on year. this is not necessarily good news. also two nuggets we got from exxon and chevron, one exxon is conserving cash. that's a negative sign in terms of what the company things will happen to oil prices. chevron, the charges were triggered by a downward revision of its oil price. this is negative news going into the weekend. back to you. >> jackie deangelis, thank you. >>> time for "trading nation." utility stocks are soaring for sixth straight day and a two-month high right now. rich ross is looking at the charts gina sanchez is on the fundamentals. gina, what is going on with utilities and does it have to do with the fed? >> it definitely has everything to do with the fed. this is representing a shift in investor sentiment. up until now utilities have really been facing the expectation of higher yield and a fed hike. at some point there were even talks about th

oil rigs active rigs as measured by baker hughes this week down seven. over the past two weeks we'd seen modest gains but again we're back down to the down trend. to focus on this idea that baker-hughes rig counts continue to decline. oil production still hovers near record highs though we have seen signs in the last few weeks that perhaps production is showing signs of weakness. we'll keep an eye on oil prices this afternoon. >>> google meantime is the stock everybody's talking about today. sharing soaring closer to 16% right. beating apple's record for the biggest market cap gain on earnings in a single day. one thing investors are learning from this latest earnings report is that youtube is becoming more and more important to google. julia boorstin is here with that part of the story. julia. >> melissa, u tube's growth is a huge factor driving google's second quarter results higher and today's stock higher. google announcing growth in watch time on youtube has accelerated and is now up over 60% year over year. the fastest growth rate in two years. whi

but they are baker hughes and total.r the 20 dates that we looked at they've actually been slightly positive. this is in the weeks after talks move forward between iran and the west. there you have it. of course advancements in the iran nuclear program spell retreats in the oil and gas sector. but some are a little more resilient than others, and two names may be a surprise. i'll let you guys debate why. but total and baker hughes. back over to you. >> thank you so much. dreerd rie bosa. steve grasso, what's your favorite pick in the oil space? >> i think you've got to go with enp companies. they've underperformed. i agree with guy, you see the refine refiners, as long as wdt continues to come in that's their market cost. how much longer can they underperform the entire space? >> let's stick with oil here. dennis gartman of the gartman letter says there is one group that stands fwoechbt the most from a nuclear deal in iran. dennis joins us now from virginia beach. dennis, always good to see you. >> good to be seen. >> wh

to add insult to injury, halliburton and baker hughes reiterating cautious outlooks for the second half of the year. tomorrow we'll get reports from two bellwether energy companies, shell and exxonmobil. how will they guide the market and what are they doing to weather the storm? >> it looks like we could go up a little bit but when you look at the long-term charts it looks very much like it did in december and it looks like we could head to the downside once again. >> where oil goes from here is anyone's guess. oversupplied the potential for iranian products to flood the market and dollars remain in downside pressure. but slight declines in u.s. production and saudi arabia's plan to make slight production costs after the summer could be the start of what could tip the scale the other way. for "nightly business report," i'm jacque deangeles. >>> oxidental petroleum fell and revenue fell sharply. the energy exploration and production company says capital spending will continue to decline throughout the year if oil prices continue their slide. >>> we are halfway through earning season, ha

we would buy baker hughes to buy halliburton-newco. halliburton is buying baker hughes.nt. also, we like schlumberger, the bellwether. land rovers and -- when and drillers and pressure pumpers. stephanie: one name to stay away from? james: offshore drillers in general. offshore was built for a much bigger environment that we will not see for the next two or three years. copies like diamond offshore transocean. stephanie: james, thanks for joining us. when erik schatzker is not here, i only like to bring on optimist. james west. let's bring you back to our senior markets correspondent julie hyman to see what is on the move here in the first 30 minutes of trading, but we see a little bit of news on greece. julie: they are going to raid -- raise the ceiling by 900 million euros, the liquidity assistance which was raised a little less than a week ago by the same amount. this is essentially as greece has this agreed-upon bailout. we see the funding flow into it once again from the ecb. as for the other movers we are watching, we have been talking about yahoo!, down 2.7%. the

takeover of baker hughes has run into a roadblock. u.s. justice department antitrust lawyers are concerns of deal would lead to less competition in the oilfield services industry. there has been no decision whether to stop the takeover. halliburton has proposed selling off assets to other companies. inventories rose last week. forecastedd stockpiles would decline. its recovery has slowed down here as there have been signs the glut will persist. the strong u.s. dollar putting pressure on oil and other commodities. years, the housing market was a big part of the problem as america try to bounce back from the recession. new figures show it is part of the solution. sales of u.s. homes climbed in june to an eight-year high. the national association of realtors says closings increased by an annualized rate of 5.5 million. that is the best pace since 2007. hiring and pay increases are sparking the recovery. mortgage rates are helping those shopping for homes, they face a problem, supply. sales are up by 10%, but listings have risen by 4/10 of a p

this represents the first time that the baker hughes weekly u.s. oil rig recount has gone up since december of last year. >> we'll watch for any impact on crude which will close in about 90 minutes from now. currently sitting at $57.27 a gain of .5% so far. >>> another crazy trading day overnight in china. . shanghai and shenzhen stock markets plunging 4%. it's been a volatile week. but take a look at this -- on monday and tuesday we saw 10% swings intraday in the shenzhen. wednesday had an 8% swing in trading. last night had a 7% swing. just -- it's incredible. lot of people liken the chinese stock market to gambling in macao, ty. it really is turning into a bit of a gamble at the employment. don't know what you'll get on a day to day basis. >> we talk about little moves in the vix. those are big moves there, folks. >>> federal regulators today holding safety hearings into recalls announced by fiat chrysler. phil lebeau is in chicago following that for us. >> we're monitoring that hearing in washington, d.c. essentially it comes down to the nation

baker hughes out its weekly rig count report. up 21 rigs. this is taking oil to session lows. $47.82 is where we stand at the moment down 63 cents. this has been a very rough week for oil. cracking that $50 mark. a psychological level that investors look at. a key technical level as well. this recount number really not supportive in any way but very bearish here and only adding to the fact that we got from the department of energy an inventory build. we saw total inventories, total crude stocks were up 25% year on year and production is still at peak levels just under 9.6 million barrels. the fact that we're seeing recounts actually go up mandy, very he staggering. >> indeed. $47.81 is where we are sitting. in less than 90 minutes we'll also get the close on crude for the week. commodities are continuing to take a beating. the basket of commodities eye balling gfc lows. >> absolutely. it is not just oil which is down roughly 6% this week a lot of pressure coming from that stronger dollar which is gaining momentum again today but we are also

stocks which were crushed when we got word that the justice department might block the halliburton baker-hughes deal and the limited partnerships suffer from the bad ownership and even the ones that were being acquired and they go lower while the liquidation continues and don't worry. they'll know when they bottom because they'll bounce like coil springs so be ready so i will tell you they are going to turn imminently. they're providing way too much safe income right now versus bonds for me to resist much longer. i've been saying watch freeport mcmorran for ages because it has oil and copper and both horrible and it's been a disaster and i think we'll hear the negative scenario play out tomorrow with reports. the industrials with business in china, wait they're not proven guilty and any chinese business is viewed as toxic or potentially toxic and caterpillar caterpillar reports tomorrow and it better show china love or it will take out the 52-week low and drag industrials down with it especially because of the largest american customers united rentals uri reported a hideous number. of course, t

baker hughes, halliburton is in a deal to buy them. $3.5 billion break joup feet. 13% of their currentket cap. if we do have a down draft in the commodity and these stocks come in a little bit that's when i think you could take a shot on probably in the mid 50s because you really do have some sort of embedded put there which i actually like. >> quickly, still in tankers. what's your true top tanker holding? >> i don't even it now. but dht is one in the tanker space -- >> that you're looking at. >> yes. >> dht. coming up earnings season is going to kick into high gear. we'll tell you why one trader thinks it's going to be off to a strong start. much more "fast" straight ahead. i'm here at the td ameritrade trader offices. ahh... steve, other than making me move stuff, what are you working on? let me show you. okay. our thinkorswim trading platform aggregates all the options data you need in one place that lets you visualize that information for any options series. okay, cool. hang on a second. you can even see the anticipated range of a stock expecting earnings. impressive... what's up,

eventually baker hughes, when that acquisition is finalized, you'll see about $2 billion further in total cost cutting measures. so here is an energy name that's unchanged for the year in an environment that's been horrific for energy. that's the type of name if you're going to get exposure to energy that you want to have in your portfolio. >>> coming up, a gold meltdown. should you stay out or go bottom fishing in the sector? plus, a big warning from yahoo! about its upcoming alibaba spinoff. could it make the stock a risky bet? opinions. there's no shortage in this world. who do you trust? whose analysis is accurate? how do you make sense of it all? a simple, unbiased stock score consolidated from the opinions of independent analysts... is that too much to ask? nope. equity summary score, powered by starmine, will help you execute your ideas with speed and conviction. and it's only on fidelity.com. open an account and find more of the expertise you need to be a better investor. 40% of the streetlights in detroit, at one point, did not work. you had some blocks and you had major thorough

followed by baker hughes. a 10% discount out halliburton. persistent drilling. pressure congress.mj energy services. stephanie: what kind of time horizon what you need? >> six months. you will see a massive pickup in these in the next six months. matt: interesting stuff. i have noted how bears people are. it has an effect on everything, from rick1 count to the political situation around the world. it seems no one is trying to stray. >> we were bearish in february. it went all the way up to the high 60's from 50, brent. we have gone back and forth to being bearish to bullish. we are back in the heiress camp. i am comfortable being in the non-consensus. stephanie: guess who also is bullish. t-boned begins -- t boone pickens. more to come on "market makers." a nasty crash in daytona is not the only thing fans are talking about. >> margaret said to open. analysts rushing to see if ecb will continue to provide greek banks with eight or not. julie hyman joins us with the analyst action. stephanie: please tell us there is serious action. people are mad. they came from the beach early and

antitrust hurdles as a result weighing on both issues now but more to the point, and baker hughes the drop-off, precipitous drop off would imply the deal could go completely and wall street doesn't like that. it resumed trading down 8-3/4%. we will keep you posted on that and the latest donald trump developments, the latest news is this. he has added the pope to his list of people he hates. the pope overrated. charlie gasparino has been following true to his comments earlier on when donald trump was teasing her, he would be a junkyard dog and would not forget us late, qualities you tend to admire in ruthless leaders. i don't know if american presidents, but they all got there, charlie gasparino would never be considered a choir boy. we just had -- might that trades in donald trump, know scorched-earth strategy is resonating. >> the wall street guys, wall street gop, they love this. they love it. they have taken a lot of heat off of hillary's e-mails. and her own fight with bernie sanders. the wall street republicans hate it but here is the one thing they all admit. when you see jab up

baker hughes 1.6%. >>> as we go to break, let's reminds you of the headlines, european leaders and greece with a deal. >>> and the market rallies. the euro shedding 0.5% versus the dollar. >>> and wisconsin governor scott walker is poised to become the 15th republican entering the race for the white house. "worldwide exchange" is back in two. you know your dentures can move, unlike natural teeth. try fixodent plus true feel. the smooth formula helps keep dentures in place. it's free of flavors and colorants, for a closer feeling to natural teeth. fixodent. and forget it. >>> a significant deal in terms of the short term if we look at the last days and weeks, not yet a major move for solving greek's programs. 1.7 first the dax, 2.2% france 1.4% for italy. let's have a look at the banks as well because they're rallying strongly as you might expect. not just peripheral countries like italy seeing circa 3%. and bnp paribas at 3%. alexis tsipras says the deal keeps resources in europe but re session father. >> we have created the conditions for being able in germany to recommend to the german

the baker hughes oil rig/by 60% however, despite this purge, u.s.ion peak at the highest level in april 9.7 whatever barrels, whatever million, bazillion barrels. the eighth highest level ever. we need to speak with the next word, francisco blanch with us from bank of america merrill lynch. the chart is stunning, and i think it is a chart most americans do not know. it is a moonshot of oil production, and it has not turned around, has it? francisco: no, it continues to go up. it has kind of flattened out in the last weeks. we were around 9.6 million barrels a day. we will go lower, however, by the end of the year, we will be closer to 9 million barrels a day. tom: everyone is talking $65, $70, with the new rollover -- francisco: remember, right now we are seeing the decline because just last weekend was the peak of the season for gasoline. as you hit that july 4 weekend the amount rolls over, typically prices do rollover right? we also have the iran deal, we have the greek story we have potentially the fed hiking rates, so all of those factors are n

that's more than six months of cuts according to baker-hughes sucking trims in production in the facesuper cheap oil regime may well have ended. where it goes from here depends on your world view. some hedge fund managers have sounded a generally bullish tone for months suggesting that with the exception of some short-term volatility we aren't as oversupplied as people think and the lows of the year may already be in. others expect a weakness to continue into this fall saying the supply is still unmanageably high and the impact of a slowing china really can't be underestimated. >> kate, thank you. kate kelly reporting for us today. >>> stocks still in the red at this hour. but they have bounced back from a big sell-off at the open. the dow industrials off about 83 points. that's .5%. the s&p 500 a little more than .5% lower at 2,064. the nasdaq roughly in percentage terms down the same amount as the s&p 500. stands at 4,979. >>> check the grek etf. down about 15% in the month. that's the greek etf. sara eisen is live in new york city with the former greek prime minister george papandr

the price of oil dropping after the baker hughes oil rig count went up for the first time since december. oil had been going lower this week anyway. as you'll see, down another 5 cents. bp agreeing to pay $18.7 billion in compensation for that oil spill in the gulf states going back to 2010. bp trading higher up by about 5.3%. >> here is the breakdown of that $18.7 billion you pointed out. going state by state through the gulf states. louisiana is going to be the biggest beneficiary here with $6.8 billion. the governor of alabama said this settlement is all about moving on. >> today's news will never make up for the loss and hurt experienced by so many alabamians, but it is a good step forward towards making alabama whole again. >> reporter: here is what bp's chairman said. it resolves the largest remaining legal exposures, provides clarity on cost and certainty of payment for all parties involved. this is not necessarily a done deal at this point. this is all going to have to go through a public process. ultimately, it will have to be approved by a federal judge. >> thank you so much. 1

energy names like kinder morgan conoco phillips halliburton, baker hughes and aog all negative over thethree months. houston, the worst of our power city indexes over 80 days. >> european leaders gathering in bruce brussels. cnbc's chief international correspondent michelle caruso-cabrera is live in athens but we start off with jeff cutmore live in brussels. hi jeff. >> reporter: yeah hello. what we have here is an ongoing meeting, alexis tsipras, the greek prime minister, game here and held a preliminary meeting with the german chancellor angela merkel and the french president also the president of the commission also. disappointment earlier in the day there weren't any new greek proposals as far as a new deal is concerned but it does seem that mr. tsipras has tried to push this story forward by suggesting if interim financing were providing until the end of this month, then potentially the greek parliament could move forward with some reforms, but at the moment the negotiation really is about trying to head off a big debt repayment that the greeks have to make on july 20th. so at this

the weekly bag lyly baker hughes rig count is a number of the rigs actively developing oil or natural gas in the united states and canada. we went up to 70 60 for a little while. everybody came back in. people predicted that. they didn't need to get to 100. isn't crude down? >> it is. 48.52. they think we could be looking at a three-handle on wti because the fraccers have gotten so good. >> these what? >> fraccers. >> that's werdird. >> they've cut costs. they don't need oil prices to stay high. >> you say it it seems like -- just coming out of your -- you're normally so proper. these fraccers. you know what else is hard to say? foo fighters fans. did that -- did that -- did oil roll? i thought we were at 47. remember when it rolls, it goes back up. >> i don't know. >>> in the meantime some of the other big stories we're watching today. greece is back in the spot light. eu and imf negotiators getting into an intensive round with greek negotiateors today. they're trying to handle a third bailout. the next diet to watch, august 20th. athens has an ecb debt payment due. i don't noi how t